Archive For "May, 2010"

The U.S. dollar edged higher Monday, extending gains after ending May trading in North America with its biggest rise since October 2008.

Asia’s major benchmark indexes finished lower for the month with buying interest across some markets light on Monday as investors remained cautious on concerns that the euro zone’s debt crisis may spread.

European Central Bank President Jean-Claude Trichet on Monday denies that an Anglo-Saxon conspiracy is to blame for the rapidly falling euro as he sidesteps questions over a clash with his potential successor and over Spanish bank health.

The U.S. dollar weakens against some of its currency rivals, pulling back after ending May trading in North America with its biggest gain since October of 2008.

No signal today as we celebrate Memorial Day in the U.S. and the U.S. banks are closed.

My recommendation for you today: don’t trade. With the States out of the picture volume will be low and you will have two scenarios: either the pair will limp along with no real action for hours at a time or there will be extreme volatility. Save your equity for a higher-probability day. Professional traders can go weeks without entering a trade if the market conditions aren’t right – you should be able to wait one day!

Memorial Day - from wikipedia:

“Memorial Day is a United States federal holiday observed on the last Monday of May (May 31 in 2010). Formerly known as Decoration Day, it commemorates U.S. men and women who died while in the military service. First enacted to honor Union soldiers of the American Civil War (it is celebrated near the day of reunification after the Civil War), it was expanded after World War I.”

See you tomorrow!

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There will be a lot of moving parts when the May unemployment report is released on Friday, but the bottom line should be that job growth may be a little less robust than in April.

The euro’s monthly losing streak is the longest monthly losing streak in a decade. Fitch’s downgrade of Spain underlines why.

LONDON (MarketWatch) — Fitch Ratings on Friday cut Spain’s credit rating from AAA to AA+, citing expectations that efforts to reduce public- and private-sector debt levels would significantly slow economic growth over the medium term.

The euro is headed towards the longest losing streak in a decade, while choppy trading marks the final session May.

The month of May has been anything much merry for large-cap technology stocks, as investors ponder the sector’s exposure to Europe, scene of rising fiscal and debt troubles.